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Full Show 2-11-19

Feb 12, 2019|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

And. This is the financial exchange with the very Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day you're simply your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Well we've got a new week that we are kicking off right now when he is jammed with all kinds of economic data earnings season starting to wind down as we. You can make our way through the month of February now. But we got a whole bunch of data that's going to be coming out over the next couple days. As we continue. To move forward here chucked out of Mike Armstrong talkers over you've got all three of us here today. 71%. Of I'm sorry 66% of companies the S&P 500 have reported earnings to this points or about two thirds of the way through. But as I alluded to we get some really. It's really fun data points coming out this week the jolts report job openings are out tomorrow CPI Consumer Price Index is out on Wednesday. PPI the Producer Price Index is on Thursday's CPI and PPI. And then we get a couple of manufacturing reports on a Friday and come out so. You know it by the report that Hitler would be most interest him. Whether or not to government workers go to work on that you know we have the potential for another shut down you know. 30 not really new economic data point we had a three week reprieve for now it's all gonna be shut down talk all week and zero. No I'm I'm not doing shut down talker I am not doing shot to shut down talk right now aka we'd do later this one guy there not until Wednesday. Lester trade war talk right now are as those back in the headlines a little bit last week do you senses so. I always like distinctive you know kind of that the news that comes out it's there's this you know master group of writers that are writing news kinda like the season of the show so it's like garlic what's gonna happen this year. He says the raiders of kind of run out would run out of view of things to meet new ideas to say about the trade him and now not to say about the trade war it's just I feel like for the last year and a half now. It's just been trade war. Exit. Shocked like. We need a new story. I'd rather we didn't. No we need a new store I have what they're never good ones are they don't want a don't want some one and other piece of bad news talk about. I do I I want Sarah that purple one of these to bed I'm a born into storage is I feel like we've been talking trade for so long now that. Again maybe this is just you know Monday morning for me and hey who knows what. It's something new have a different iteration of trade okay Khamese give me something at least what is there anything new that we've learned on US China trade negotiations at this. We know not it status quo there was some report to me that march 1 deadline isn't quite as much of a deadline as they. Guidelines for when they'd like to remove things that might feel the more flexible than we previously thought but. In terms of just trade in general there is airport coming out on February 17 so what's that Saturday. Yes Saturday and Sunday. From the Commerce Department which may or may not recommend. Tariffs be placed on European cars. So now we have potentially open up a whole new coach new front in the trade Tom yet and I mean this is just report from the comment from the Commerce Department to doesn't mean that the administration has to run with it but really. Hope that we decide not to fight a trade war on two different fronts. I think that might be over extending ourselves a little. Well and and in and I think a big thing is just that pay as you are trying to put pressure on China in one conflict. Putting pressure on your allies in another one really great way to go about building you know a unified front to kind of put pressure on China so that's that's the way that I tend to look at it but. Nothing to want to China for right now I think we're still kind of been holding pattern there yep but this as you mentioned could potentially open up not a new front in the trade conflict. Which would certainly I guess give us something else to talk about though I don't know what do after I've had enough to trade but let's move on from there and and talk about. Taxes is that this is a fascinating story in this is one. That we are going to be hearing more about over the next six weeks here. So here's the deal. People started filing for filing their taxes this news they were they were able to start on January 29 so about two weeks ago. Is when the first people were able to file. Here's what we know based on the early filers so for the week that ended on February 1 161000005. Filers. Actually file their taxes that's down about twelve point 4% from the same week a year ago they said OK it's it's awful little bit there you then had. The number of people that received refunds now okay they refunds on average were down eight point 4%. From the previous year seats at that is OK if you extend that out people we're going to be getting smaller refunds this year than previous years. Except. Here here's what's really interest the number of if if you look at the number of returns. In who typically files her mountain. The people who file early are usually the people getting refunds. If you don't if you're not getting a refund most people's a GM I'm just gonna wait as long as possible or. I have to wait in order to find money to pretty darn right tact that check on my dad and my envelope is dated you know April 17 if it's a weekend yet it exactly so open. What's really interesting here and I'll I'll show the calculations that I've found here because I I was curious about the scale I've heard anecdotally that the a lot of people were running into problems where. If people were working. The iris change the tax withholding last year so that there was less tax being withheld from paychecks. And anecdotally people were saying deal looks like they paid. You change we're building by too much they be reduced by too much and so people are known and the bones like Iran a couple calculations. Just just I was curious. What it ended up looking like and so I said okay let's let's run with a family that is making little bit above. Kind of normal incomes of 70000 dollars a year. For a two wing come counseled married filing jointly tap in I ran this for 2018. So last year. In in this case okay. If you just had the standard deductions. In didn't change a thing if you just said look it's just the two of us were just filing jointly standard deduction you got a refund of 2400. 58 dollars from the federal side of things using last year's numbers. If you were to go in. And do the same thing for 2017 using the exact same number 70000 inning come standard deduction. You had personal exemptions back NC get those as well but don't change anything. Guess what the tax refund was for that person. I've 8500 dollars. About now so the standard withholding that was being dawn okay changed things. What literally by about 6000 dollars and then said okay is like what happens if yet to name two incomes of fifty thousands are running in a 100000 and see what it looks like. It's the same thing there's like five to 6000 dollar gap which is really actually a good thing. Yes and no okay it's a good thing in your career is gonna be a shock the system but it's good thing for the average person. In in both cases the tax burden in 28 team. Is lower. Then in 2017 so people save more money under the new tax code just using a standard set of circumstances. But here's the problem is when people plan out their budgets for the units they plan at the bucks to get what sits down and plans out OG here's exactly outs can work. When people put together kind of their thoughts and gee how's everything worked for the year. How many people plan on getting that big refund. In February or march to cover the expenses for Christmas and travel and things like that it's a majority that now are not going to be getting the same size refund they had previously been getting well if we were Smart and knows the difference paycheck and put that in the bank and we're not might get worse and worse you can Wear it or not smartly we do dumb crap all the like. Think about it I I spent what I've I literally I took my weekend last weekend. And I spent did waking up every four hours to check on this. Stupid piece of brisket that I was cooking for. Rout them I'd like we we do dumb stuff I disrupted my sleep to cook meat and let's let's remember what that refund really represented ray if you were getting an 8500 dollar refund from the US government it meant that you're in loaning the United States government. 8500 dollars throughout the year for no interest yes so it's a much better for you if you're just getting a 2400 dollar refund in fact it's better for you if you end up owing the government a little bit of money because then they're giving you attack on the tax free but. If you're going a money tax free. But you're right there are a lot of people that budget in this 8000 dollar tax refund come April come February and march. And that's going to throw a wrench in the budget I guess now if you're not working. This doesn't really affect you as if you were pulling money out of and higher rates now like your withholding was automatically adjust to collecting Social Security it's not automatically adjust to fear. Taking a pension it's not automatically adjusted. But for people who were working this as the potential to be read you the big problem actually and so. I think you're going to hear a whole bunch of stories over the next month about people. That are unexpectedly getting hit with either having to pay money to the -- we're just getting a significantly smaller recall on and they expect I'll it's Oriole all over Twitter chuckles it yeah and all these people are like blaming trump inches what no no your paychecks one outlast you are a little bit you said the source cited only 30% of people actually paid more taxes and I think a lot more people are. Not really realizing that but he only 30% of the general US population are paying their taxes and which attacks well. Here's the thing though I do think it's fair to look at the US treasury and say. You change the U you change the tax withholding and didn't issue any guidance as to how this was going to affect people's actual file Baghdad yeah you know it. Look most people's tax burden is going down because of this but it's it's the the timing of the payments that I think is has really messed with people on this so. This does take us to our poll question of the day up at financial exchange show dot com. Are you expecting. To get a tax refund this year. You can vote yes or no and again that's available financial exchange O dot com. And up please also text us at 63566. I'm just curious to hear from people. Hey how much of a refund you typically get most years. Do you typically end up having to almost years. I just wanna get a sense for what people expected kinda how they use that money some text us at 63566. And we will follow up I'm Allison continue to go. I'm really special interest that if you think that you're going to be paying more taxes and 201827. Years as 30% minority. We would love to hear from Texas at 6356. X just Acura STU gets expecting refunds. Black kids via. I asked Russell replied still a net loss for you financially all right oh definitely by I'd like to dwell time arm right at the end of the year sure really well time. And you wanna have your bay in December January late December now not expect. Political months on talker you know let's take a break is when I am so my idea because it's Monday I don't know. Let's take a break in when we come back we'll be talking. But renewable energy projects in New England that seemed to be getting off the ground now that's coming up right after this. Mean this stare at the charts graphs and numbers all day and just listen to us it's the financial exchange with Barry Armstrong and chuck sun up on the financial exchange radio network. 803934001. That's 803934001. And get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com to. He suffered securities America incorporated members and SN BC and advisory services offered to securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the voice of a professional familiar with the laws in your state. They're driven started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. 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Hi everybody it's very Armstrong from the financial exchange and I'm joined by Jake to Lee who's the executive vice president of leader bank. We're talking about SBA loans you know we hear a lot about SBA loans small business loans Jack. But I don't think people really understand. How they can be used and why they're so valuable to the small business community. Make spare yet we had been really focused on providing small business lending to local communities and local business owners. And the programs that are available power very helpful so we're preferred SBA lender the what that means is that. We can quickly make decisions and under rates small business loans in house. Andy can be used for a variety purposes for small business owners give us an example. Well one example that recently happened was there was a restaurant in Cambridge when I was growing very rapidly they are always full occupancy. And the space next Jordan became available and so they wanted to. Take on that space needs capital to sort build out. The restaurant. And you know was about a 300000 dollar loan. About it how many years did they have to pay it back typically these types of loans vary anywhere between five to ten years lots of time. So you know we were able to quickly make that. Underwriting decision provide in the capital expanded rexrodt has grown tremendously them as just wanted one of many examples in when they're landscaper or. Factional services unit loan officers that are available to blog talked of small businesses we have dedicated small business lenders. Folks if you wanna learn more about small business loans cult leader bank there one of the best in the business 8776917. B 900 is their phone number. Or visit them online leader bank dot com 8776917. B 900 Unita small business banking partner. Leader bank is the one to think about 8776917900. Securities offered to securities America each member senator SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated we have part of the financial exchange in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24 sevenths right here on the financial exchange radio network. Get some text in the regarding our question about you're expecting to get a tax refund this year. This went from 50 wait forty K year single income family. Wife and two children living on Cape Cod expecting to get back 6000 dollars so what that's one person getting a refund here the other one from 50 wait though. Usually get 17100 back. Bringing 200 this year though so one person with about a 2000 dollar shift in the negative direction. From the previous year. And so again text us at 63566. And let us know really if you're expecting to see any changes in the refund that you get the C or you're expecting to pay this year. And also had a financial exchange should dot com and vote in our poll question. Are you expecting to get. Eight tax refund I think as general the general consensus that I'm seeing is that most of your income comes from Social Security pension nor IRAs to try getting a bigger pat you try getting bigger refund if it comes from. Active employment despite a smaller refund. In in to go I dug a little bit more into the numbers that I was talking about last segment so for families. That are making 22 income families so let's assume that both spouses are working in both spouse or making about 50000 a year so that's a 100000 for the family income. In this situation. This year 28 T compared to 2017 the overall tax burden is about 3000 dollars less using standard deductions. Blocked the refund. Okay shifts about 5000 dollars from a refund of 3000 down to. Oh wing about 2000 said the tax burdens 3000 lower. But it's all saved in. Effectively the cash flows just dramatically different route because of how the withholding happens though. It's what what I would expect to see for most people is yes the tax the overall amount of tax paid his lower. Put more it's gonna be doing a lump sum at the back end which I don't know people prepared via instant. Ever source plugs in the green power with offshore wind and solar projects that's the headline from the Boston Globe what's the what's the meat of the story in my. Three guests different you know the offshore wind projects obviously coming on we have a whole bunch of other ones coming on and it's ruby in response the fact that we can't get any of those. Part of who'd been talking about for years and northern pass and access northeast where were either bring energy and from Canada or bring in gas from. Different parts of the country we just in New England in general cannot seem to approve that sort of thing. And I was gonna ask you guys. So first off. I think most of us know that New England is in the U some of the highest electric utility rates in the it to concentrate the highest. Not. Quite a mean thing about this choose states that are highest higher than Hawaii. Hawaii and Alaska Air. When he gets the lowest. I would yes. Florida to Oklahoma. Oklahoma is sixth lowest. Florida text is not on there Texas is not on their either Florida. The Alabama. Our house Alabama is not in the bottom ten Arkansas. Is in there Louisiana Washington Idaho or the low history cost utilities hot Coca Arkansas North Dakota Oklahoma Utah Missouri Nebraska and Kentucky but if you're looking at New England states Rhode Island as the third most expensive followed by Massachusetts followed by Connecticut and New Hampshire. For months the eight. New York's the ninth and means the tenth lowest spent in the. Everything is just if you look while the actual you know contiguous 48 states. And to win was pretty much all the most expensive I hit it in this just in the big reason is that you have. For whatever reason we we tend to do this to ourselves where. We don't want. To actually have the means for you transporting power going through its there's a huge knot in my backyard problem in New England. There is but I think we also have to ulcer admit that we also live in. The oldest part of the country to and so doing any of this stuff just becomes a lot more difficult you know when you're talking about a city in Arizona are we talking about a city game. Idaho there is there a lot newer and so just. Tearing things up and putting in you know for instance pipelines underground at the utility is don't crash every time this windstorm. Is a lot easier in a city like Phoenix Arizona that is compared to you know. Worcester mass choose well it is. But at the same talk by the same token near the northern pass wasn't going to be blowing up commuter journeys you know like you're talking about literally. Oh we wanna cut down some trees put a power lines and then put trees back up around them or we wanna put these underground so we're not disrupting treason things and we still couldn't figure that out so. I do think what this new wac this new approach that ever sources speaking here is they're saying look we don't think we're going to be able to get anything done. Ian mute with some of these projects on the land to try to get electricity. Either down from Canada or try to get Nat gas coming up from Pennsylvania into the New England region so what they're doing instead. Is saying all right. We know that wing wing power costs are coming down a particular offshore wind. Paper we're gonna start you know throwing money at that as a potential solution for us. Just because otherwise we don't think we're gonna be able to supply. The power that we need affordably to New England residents which. Exposes a good thing by. Think whatever one needs to understand is that. Practically speaking for at least a few decades we are still in the most expensive costs. Utilities in the country. Yeah this is this cost is not gonna compared Nat gas any time soon. No this. When you're talking offshore wind it's not going to be cost competitive for one out except. When you deal with highly stressful situations in the winter like we saw back in the winter of 2018. Where there was 11 week period you remember the week last year where went down to like negative two degree years late December early January in my heater for us so spot prices for Nat gas in the New England region. We're forty times what the average was you know the rest of the country and the reason for that was that you have all these years either power plants or PO personal you know heating units. That word you know demanding this energy. And they're simply was no way to get into the New England region and so in cases like that in some of that extreme weather that you see. They wind power actually may be cheaper during those situations but in the long run and along under normal circumstances. It's just not the case let's take a break now when we come back we've got Wall Street watch and also. What the heck are so many Boston restaurants closing. Billion right after this. Like there's something. Followers on Twitter. Show breaking business news is always burst right here on the financial exchange radio network. That speaks theory a great family friendly mountain when something for everyone including day and night skiing snowboarding snow tubing aired a special pop. Pay one price program on Saturday night's had a pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. 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No one wants to deal with the death of a spokes but it happens and you're not prepared your finances to be severely affected Colby Armstrong advisory group and get their new free guide on how to prepare for the loss of a spouse will help you understand the various pitfalls that may come call 803934001. That's 803934001. Or downloaded right now and Armstrong advisory dot com securities are produced series America incorporated member of generous so PC and advisory services are for the securities America advisors incorporated Barry Armstrong represented a strong advisory group in the securities America companies are unaffiliated. Time now for mostly watch a look at the market's performance so far today I don't Berrian chug right here on the financial exchange radio network. This time for Wall Street wants brought to you by leader bank. If you are in need of a purchase or refinance loan. Later banks get some the most competitive rates New England the dedicated loan officer will work with the every step of the way and the local decision making means faster closing. Call right now for more information at 8776917900. Or visit them online at leader bank dot com member FD eyes see. Mike let's talk about Expedia first the big travel booking website down about two and a half percent today. Not in early trading what's the reason for that they are they have they reported pretty solid earnings. Bob last week where they beat pretty much across the board but it pretty much given up all of that gain that they sell off to bad mainly on the concerns of the growing battles brewing legal battle between them in united. United it is there are negotiations around how much United's willing to pay to be on the website and looks like they may be delisting all of the united flights from their web site's pretty soon which would be a pretty big hit there to their overall revenue appear for Torre nineteen. They're down a little bit today Goodyear tire also down 3% today's on the back Avaya a little bit of a tough day on Friday is well when the stock fell. We've about 10% what's going on there. Yes so and their earnings report they specifically called out concerns about China and those concerned Steve concerns seem to become pounding through this week as well not only are facing higher input costs. For a lot of their tire product specs. Demand in China has really plummeted and now there are talks of this new auto terrorist being placed on European autos which would just impact good years business even further so. Clearly some negative sentiment on this company down like you mentioned over 3% this morning. Very good in that is Wall Street watch presented by leader bank call now for a great rate on a purchaser refinance loan it 877. 6917900. Or visit them online at would've backed dot com member FDIC. So that the headline from the the Boston Globe is wire so many Boston restaurants closing. Aren't any closing like I'd seen an atlas to now. There are brought to book is it more than normal I guess so there are a bunch that closed in a short span. It kind of depends if more clothes from here so a bunch of restaurants close and really really short time period a bunch of pretty famous restaurants duke. Any of what the Boston Globe has kind of identified as you add this all came pretty suddenly and if it continues in this direction that it will be pretty significant but. For an average year the number restaurant closings that we've seen so far that far so. I Indies when we look at you know that the names that have closed that the biggest one I think that that most people are familiar with his third and park which was. You know with the oldest restaurant in the city of Boston. The headless poly A which was a big guy high end French place that I am I never got to go to lax. Dad have been Smith fumble askew close to learn or have reopened elsewhere in the al-Qaeda are getting close there location at the was the armory in our closet guy aren't. And they they opened its new location in Wellesley mass choose and so via time in Baghdad that that's a closure SC. So you had some closures there but. I guess overall I continue to see more and more restaurants opening up a mean when I would get cut the landscape overall compared to. You know five or six years ago. In that hole seaport here there was nothing there to begin with now that's filled with restaurants. Be that whole Somerville assembly broke area there was literally nothing there at all and now that's filled with restaurants I guess that's not technically Boston but. I guess the point I'm making is they had some big names but as you mentioned it's not like you seeing anything dramatic as far as the overall number of closings this. And I think you're just seeing a lot more turnover I think you consumer tastes are just shifting very rapidly people don't just go to the same restaurant over and over like him might have used to in the past. Eight Jergen park kind of brought up in particular they were trying to change up their menu and attract new customers. The that in that you know kind of really angering all the all the customers they had to have been going there for years and they just. Couldn't really make it work and so I think you are maybe likely to see more. Restaurants closing in and new ones opening faster. Questions for a question for both the U actually beauty you you're both relatively big. Two guys you know pass through yet you know like you both food guys love him. Has there been any bigger shift in the last three to five years from then the one. From kind of a traditional entree appetizer menu to this whole cease and sharing small plates Thomas. Which are on one level like look it's nice because you know you don't have to like fight each other for BO who defused if someone gets something that looks really good. But on the other hand. I find that it makes ordering kind of a pain. Yeah I I am a kind of a fan of you know one page menu sort of thing. Where you don't go through it title lists and all that stuff. You know it in it's just like people say oh well you've got you know the small plates and then there's appetizer then there's Rick it's like just just sent. Simplified I want what the kitchen to tell me what I should eat. Seattle and San candidates nine like things like travel budget things or wherever we go out to a restaurant at noise like. Kind of influence of my wife is gonna have that we switch halfway through second travel things sure I like the small plate yeah I mean we recently went out toy aisle slightly more expensive. Yes it will exact Canada you know they they just wacky because their like. Oh yeah you gotta get for these for two people and it's like well don't like what you appropriately sized tradition it's right exactly you know so like. I just I feel like it's more especially if you get into a group where there's like. Eight or nine people it's like every golfer data in the attic if I go idling that's I have to get in by the time we don't you boarded the whole menu and nearly what had. Happened yes I'm gonna dinner with a large group now via the toughest restaurant in hell that sounds like it is top top top silence you know what date nights. I feel like it you can't do a large group of people. A portable whole menu speaking date either you guys going out for Valentine's now. The we don't know commitment we made a mistake once and it just was there is no tire Wear is their machines is just that restaurant's parent and you could tell the wait staff was trying to turn you'll were quick and just like over priced out just not for me yeah I don't know I agree we stay home specifically said do not buy me flowers for. Ways to what he would do. Hours. Jack you know there's there's a cockiness that's. Yup we we usually took a nice meal on missile roast or something like that yeah. Amazon reconsidering their plan to put a campus in New York the reason being they get a whole bunch of push back. From. Long Island City saying. They did this isn't going to help most people here and we don't. One guy in particular. State senator Mike. Jane are sadly who was present appointed to the board that could hypothetically. You know veto the whole development plan. And Amazon's kind of little bit wishy washy on this. Your take on your prediction here is that Amazon is still going to locate in new York and refuse some of the tax refund. I think you're going to see a renegotiated deal here where Amazon and to taking less. Because they took less money just go to New York to begin remembered at that what what's the city is Jersey City. That offer them a heat Jersey the off from like seven billion dollars Amazon said no we'd rather be in New York yeah so from my perspective. Amazon I think is going to try to get ahead of this just in terms of from a PR stance and I think they're going to say they. Look maybe we took too much money here. Why don't we just you know let's not take all of the tax packages that are on the table. And will will stay in new York and also agreed to contribute half a billion dollars to affordable housing or something like that. That it that's what I think is going to be outcome here is that Amazon takes less money from the city. And offers to commit to some kind of project in which they build affordable housing in and around their campus let's. Let's say you're wrong let's say Amazon just says it's possible that lets just say that Amazon goes out they say forget it see you later New York we're going elsewhere. If you combine that with a number of other things that are impacting New York right now you've got pretty hard pressed real estate values because of the new tax law yup you've got a lot of things changing in New York City he could this be a real indicator is that. In New York City might be on a bit of a downturn. If Amazon is the want to relocate does that serve as an indicator for other businesses. In the short term it if I come back to the same thing that I said when Amazon first said that they were gonna go there which is. New York City has a monopoly on being New York City yep they're there is no other place like it in the world. In terms of the business opportunities the real estate opportunities. Is the only place in the world but you can do some of those things. And as a result any downturn that New York City has I think it's gonna be relatively short lived at this point. Yeah I. I'm torn. You're may be right maybe maybe you're right the New York is special and that they will last forever but it. The New York Knicks have the highest valuation at any NBA team an awful. It's not like it in New York brings things to the table just the sheer size and scale Napoli that that no one else and that no one else can and so. I I do think that New York I was in for a little bit of a downturn yours is again I think one is real estate driven and that as you mentioned is is really. A problem area for the right now but. We're talking by the way about the and the new limits on how much you can deducting state and local taxes put New York real stated very tough position because you've got. Huge property tax bills as well as us the city of New York income taxes that reading document to a much higher federal tax bracket now. What are city taxes New York you know. Can they can be as high as 10%. Can't remember what they are. That's o's cereal. The it's got five tax brackets Ria from two point nine to three point eight that's that's. What is says. I thought I really thought it was higher nap I guess when you tack on the New York State income tax on top of that year combined you get 10% yap zone. Let's take a break and when we come back we'll be talking about Tesla. They're building a whole whole bunch of model threes finally. But now they have to figure out how the heck do we surface all these cars that we have out there quick break right back with Tesla news after this. It's just sits in stunt done to. Close your portfolio keeps the financial exchange with Barry Armstrong in jokes done well on the financial exchange radio network if you haven't started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling talk about ski a partner with the law firm of Cushing in -- -- an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of trusts that are available but two of the most common are rev a gamble and irrevocable trusts there are major differences between material so before you put pen to paper get some solid advice from someone who knows and can advise you on the best way to put together your plan Cushing Dolan is a free guide out this month on the differences between -- a blender amicable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state Texas while protecting your assets from creditors and long term care expenses call right now to get this free guide an 8668485699. Or downloaded right now from their website legal exchange showed dot com. Do with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of a spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 803934001. And get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. He's offered to securities America incorporated members and SIPC and advisory services offered through securities America advisors incorporated Gary Armstrong represented a strong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. That's the Xperia a great family friendly mountain wind something for everyone including day and night skiing snowboarding snow tubing aired a special pop pay one price program on Saturday night's had a pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding two things rentals lesson tips and entertainment that's because one of the largest nights in areas and all of northern new England and one of New Hampshire most accessible learned to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. Phillies info go to pats peak dot com that's pats peak got the job. Pats peak ski area and had a very New Hampshire. That's speaks seven interest premier ski and snowboard mound is a 100% opened with day and night skiing and write it make plans to spend your upcoming February school vacation on the slopes at Pat's cheek with skiing snowboarding and snow tubing for always information on conditions photos videos and events Skoda pats beat dot com. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on homework leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank dot com. Member FDIC equal housing lender MLS number 449250. Are subject to credit approval leader bank a step ahead. It's our daily poll question financial exchange showed Doug John. Vote your conscience there hard just vote go to financial exchange oh does come and test away. I so testing is got to the point where they're finally Franken had a whole bunch of blood test the model threes I think they're now north of 5000 the week that they're producing. But they're running into some issues in that. They need to service all these they don't have the same type of model that other car companies do and so that's. Turned into a bit of a problem with them yeah imagine getting into a fender Bender and needing a new bumper and taken three months to get your car back. That if in three months at a fund both. And especially it's interesting you mentioned bumpers just because Tesla is in the winter these model threes they've had this problem. We're because in I've mentioned this before because of how against the air flow is designed around the bumpers. They keep getting snow into them and then the bumpers ball. And so. Like what you pay 45 dollars for a car that can be a problem Olof. But that they're running into these problems here and so. You know they they keep waiting for parts to arrives and got delays on parts that our body shops are waiting for. They've got other things where you have depth Tesla technicians come out in the technicians are quick enough getting out to them. And Tesla is now ranked consumer reports does the reliability report their ranked 27 out of 29 brands that they that they were in terms of liability that's that's good. It's not a great look. I mean part of its yet Tesla is experiencing growing pains we've talked about that before and maybe they can get over them but there one of the big issues they have no dealerships. Most at dealerships in this country service all the vehicle in service a lot of vehicles they have parts doctorate there. Major distribution a lot easier tested in go to them they want to deliver a certain kind of customer service which. To one degree I'd you know you can see how that would work you and you're not dealing with salespeople that they test the dealership you're not dealing with. You know own it's separately owned dealerships in like that which is nice in some degrees but it really hurts when it comes to the sort of thing. Part of me wonders if that model can work now that they're trying to become more mainstream and in a lower price point car. You know what you can do as far as you know concierge level service for someone who's buying an 80000 dollar car. It is different from you know being able to make money on that same service when he charging 35000 for the car. Yeah. I don't know I don't know enough about how long. The finances beach behind you all those dealerships for. It yet to compare like the saudis vs the Honda dealerships and how those incentives work and the real costs associated with them. It's not like they don't have service senator tests and is currently operate every five service centers throughout the country at one would think that that's got. Triple in the next few years real disservice to Swede cars. Well and in and they've got you know only two body repair centers that are both in California. So if if you public tussle body issue in year Pino is on the East Coast. What he has should be car across the country in the ship and actually it you know indeed it starts to get a little complicated for there. Fortunately for Tesla well I don't know which fortunately just because who knows it matters not Canaccord G annuity. The the investment company upgraded the stock in predicting a 40% relic from here upgrading the stock to 450 dollars a share for their price target. Even though Tesla shares are down 8% for the year so far. In the Ritz 315. Dollars a share right now she got a ways to go it's up about 3% almost 3% today. But yet hasn't been a great start to this year has been as Renault test has been one of the more falls stocks in the entire market the last few years. Folks if you haven't started in a state plan yet now is the time to state and asset protection planning is critically important to those of you who were nearing retirement age. Or are already retired because those solid plan. Many problems can arise. Take the time to avoid that kind of issue by Colin Todd wants ski. Partner with the law firm of Cushing and old and not an expert in taxation and elder law. Indy can help you identify the right kind of planned for you were family. There are numerous kinds of trusts that are available but to the most common or revoke noble and irrevocable trusts. There are major differences between the two so before you put pen to paper. Get some solid advice from someone who knows he can advise you on the best way to put together your plan. Cushing and old has a free guide out this month. On the differences between revoke bull and irrevocable trusts in you can get it by calling 866. 848. 5699. The guy can even show you how it's possible to eliminate your state taxes. While protecting your assets from creditors and long term care expenses. Call right now to get this free guide at 866848. 5699. That's 8668485699. Or download it right now from their website legal exchange show. Dot com. Payless ShoeSource who I actually never been in a payless of either view shuttered all. Amish have ever been when I was a kid there and that's where about issues exactly donors has one right in midfield decks the public you know which is also known there yet and we go by our troops news back to school shopping present panelists and produce eco challenge and a solid and and and it went miles I was went to logo. What the heck was the name of the place. The pilot serve you champagne as your weird flights are sparkling cider as they rates at least yes there is out as shoes yes and shine them only the. Finest gold plated shoes for the Zahn is up if I can't remember the name of the place I went but. So payless is preparing now for its second bankruptcy actually in this could come in what two years yet that this could come in the next two weeks now they filed for bankruptcy in April 2017 and closed 400 stores so about. Thirteen 14% of their stores they still get 2700. Left at this point I thought as a shock and part of the story that there's still 2700 yeah that's insane remain. While where do you guys buy shoes today I guess. Them from what conflict dress shoes solved usually check edit DSW as the prices are pretty good what about like sneakers are running shoes. Usually game. Yeah I generally go online if I have for sneakers I just heard like running store that like Ted. Like actually have somebody look at how Iran and recommend the issue. I'm by most measures on Amazon now and in I didn't think I would is generally I don't know like buying clothing on I don't know what I'll make you want to know your size when you know liar in mine I've bought shoes off elect new balances website so yeah I've I didn't have any hesitation there yet. It in I say Amazon and I've used other web sites yeah well you know I've bought direct from mob works and you know for running shoes and stuff like that. But I find them going online we're just because as Mike said if I know my size nine of the brand and buying. Shoes are kinda predictable alike is that hard to return. What's that the not hard to return notice like boom like you pop band they Cindy not a big deal pretty easy. That is all the time we have on this hour of the show but fortunately we got a whole lot more to go including babies and shut down talk in the next hour. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. -- 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. That speaks theory a great family friendly mountain when something for everyone including. Pay one price program on Saturday night's had a pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding do things rentals lesson tips and entertainment. That's because one of the largest night skiing areas and all of northern New England fans one of New Hampshire most accessible to learn to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats beat the latest info go to pats peak dot com that's pats peak got a job. Pats peak ski area and had appeared New Hampshire. That's speaks seven interest premier ski and snowboard mound is a 100% opened with day and night skiing and right. Make plans to spend your upcoming Faber school vacation on the slopes at Pat's cheek with skiing snowboarding and snow tubing for always information on conditions photos videos and events go to pats beat dot com. Hi this is very Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage meter bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're banking is the number one purchase slender among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who are ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender male customer for Portland to try zero are subject to credit approval leader bank a step ahead. The money matters radio network WB MW lemon polonium and W 275 CM FM in Boston the money matters radio network. This is chuck and Mike from the financial exchange in Riyadh today to talk about the new guy that we're giving away this month it's titled how to prepare for a spouse's passing Mike and fortunately this is a topic ever when needs to prepare for but. What people don't take the steps because it's a little bit intimidating so let's start from the begin. Anything happens to both to be at the same time this would avoid probate process for children or anyone else that's listed on the account by the way folks not just your investment account not just your 401K go to the bank you can have pay on death beneficiaries on really basic accounts elsewhere too like what do I have a will or trust in addition to beneficiaries named on an account how does that work well the beneficiaries on the counter actually going to supersede. The wheels in the trusts so. Let's say you change your will and say you know but. Something happened and I need to cut my son or at nine nephew out of mind will I don't want them to inherit anything you must go up to date those beneficiaries on those accounts as well it will not just automatically change because you up teacher will lower your trust the beneficiary designation takes precedence. Folks we have a new guide out this month it's titled how to prepare for a spouse's death in all you have to do to get it is call 80393. 4001. Again that number is 80393. 4001. Or you can also get it Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities American companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. 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It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out hi this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's about all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great great it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings re subject to change without notice leader bank a step ahead member of the icy. And. This is the financial exchange with the very Armstrong and jokes are about. You're exclusive look at business and financial news affecting your day your city. Your world stay informed and up today about economic and market trends plus get breaking business news every day it's. And now the financial exchange with Barry Armstrong and sharks done us. Well chuck and Mike here on a Monday Tucker still look behind the board as well and as we. And the kick off the week let's take a quick look at markets the Dow was off sixteen points the SP is up to. And the NASDAQ is up eighteen so markets mixed and not really a whole lot of movement. At the moment here right now this coming on the heels the couple down days in the last week after about a six week rally. Since Christmas Eve where we we kind of bottomed out at that point Mike what are the things that we're starting to get some data on to get some information on. Is the that the tax filing season this year. We've had at. Last checked that sixteen million households filed their tax returns this year that and over those households. What kind of trends are we seeing at this. Point well if you ever trend is that a the texture and just taking longer to get process so be aware of fewer people have actually submitted their returns. And of those returns have been submitted fewer than processed by the IRS. But on average. The refund the people did receive were about eight point 4% smaller than the refund in the previous year. Not the total tax bill that they and it paid. But the refund that they received was smaller in spite of the average tax bill actually being the last. Yeah I did a little Lou little experiment just as I was curious however thing ended up working out for kind of an average Fam actually slipped an above average family to be honest in terms of income. In terms of income so what I did is I had two individuals. And I both of them making 50000 dollars a year in their jobs of the household income was a 100000 dollars. And I ran the numbers for 26 or for 2017 and twenty AT down the 2018. Tax bill. If the person if the and we wasn't itemize in just on standard deductions and things like that was about 3000. Dollars low. So in 2018. That family saved 3000 dollars compared to the year before the however the amount they received any refund. Went from them getting about 3000 dollars back to old wing about 2500. Dollars to the big thing. Is that from a cash flow perspective. Last year in this what I think a lot of people who were working in filing you're going to see is that pay their paychecks were bigger every weaker every two weeks. The cost of that is. Partly born. By the fact that they're going to be you likely. Getting smaller refunds or owing money now but in the net it's still going to end up working out positively for them as long as they can scrounge up money to potentially make those payments. That they may oh instead of getting a refund. Yet it's kind of surprising to a lot of people today give people who have received their refund for a decade. Suddenly having to owe money just a lot of people just don't really understand how all this works and maybe didn't even notice the extra money in their cat you know maybe you got to raise the same year that. This tax bill went through and he didn't you write really notice that your taxes holdings were considered. Our so this takes us to our poll question of the day it's up right now on financial exchange show dot com. In the poll question is simple are you expecting to get a tax refund this year there's two answers yes and no. And Tucker what kind of results we have us so far today. On the on the poll question us so far financial exchange showed dark com 60% of our listeners are expecting. He tax refund this year 40% are saying no they're not while. So 40% not expecting to replant 60% expecting and also text this at 63566. I'm curious in particular to hear from anyone who may have already filed. And if they saw a major shift. In. Ian. What they receive for refund or what they had to pay. For the given year so again Texas at 6356. It. So we get a text from somebody in New Hampshire six or three writes Anthony killed this year mortgage and sent to house is nearly 30000 dollars property taxes nineteen. 1300 dollars. Not to mention I've home office in some employee business expenses so. Yeah. You might get killed this year depends when those homes were hurt when those. Mortgages were started aghast because they'd there are some more is there were grandfathered in to still being able to docked in some from that cannot be deducted. But yeah I if you pay a lot of state and local taxes if you for instance work in Massachusetts and lived in New Hampshire. If you live in Manhattan. You can be really adversely impacted by the new tax bill. And we've gotten some odd different responses one for five await saying 40000 years singling come family. Way and I without trip children living on the cape getting back 6000. Another one from 508 usually gets 17100 back but paying 200 this year. So I'm I'm just it just didn't hear from people who are PO in the process of following her. Really people who have already filed. What's the new tax code do to your situation text us at 63566. In the let us know how things are moving four yeah well. Which we thought we not felt we wouldn't we hoped we wouldn't get to this point but we're not there yet. We're not there yet on Sunday. Yeah I'm going to snap by the end of this week if this story continued all it's gonna continue like yeah this is just so. Dome at this point check in a best case scenario this gets negotiated at like 10:30 PM on Friday I am I best case and I work ran for another week and that this is going to be the story that breaks me. And that story is the fact that we're now four days away from another shut down and it seems like. We're not really getting any. Correct CIA who we are heading towards the Friday night at midnight shut down as a 1201 AM on Saturday's win government funding is going to expire. Current. When the. Breakdown in negotiations has to do with the number of beds that ice has. To basically hold. Immigrants and illegal immigrants that have I've been charged with some sort of crime Democrats want lesser. A lesser number of bad Republicans obviously want no limit on the number of beds for violent offenders and that has apparently. Shoved the stake in where negotiations go from here and if something doesn't get figured out in four days then. You won't wanna be favorably why. We even allow for government shutdowns. Dutch and MB an option like should not be an option the default just be okay if you can't agree on a budget than an automatic continuing resolution kicks in and funding levels stay the exact same as they were yup. And tumble like that. Why would a government shut down. Talked me Mike. I can see in the past how it has. Been a successful negotiation tool and I don't really loved the idea. That they government can continue funding without genuine agreeing on how much money should be how much money issue. They already agreed on the levels. Like that's how the sequester were down the sequester was in effect 88 temporary rule to prevent a government shut down and the current so. I just look at it's like how Blake it's just so. All network talking about this again as you can see. I really don't like talking about it particularly much it's just something. That I find completely unnecessary and just more active political theater than anything else and as such I just think it's incredibly dumb because distraction actually dealing with problems and instead we gotta talk about. You know this kind of crap what will the government be opener will. Just figured out via figured out late. I hate that it's a tool that's used I don't get Iran I hate this we talk about it. And I'm not sure if I would be in favor of passing laws it says under circumstances in the shut down on. Or how about it is well no I'm not and you've got to go there let's let's let's move on I thought. And I don't. I can't stand that stuff. Let's talk about this story out of Purdue University. They've come up with what they're calling. Now what their Colombo what is. Effectively an income sharing agreement and I SA. That they are putting on the table as a way for people to potentially pay for college note income sharing agreement the way it works is you don't effectively have new conventional student loans or something like that. Instead you are required. To pay a certain percentage of your income for a fixed period after you graduate to the university in order to pay for your education. Thoughts. I think it is incredibly interest and. I think it could result in the bankruptcy of a lot of schools if they administer it improperly. But I think it's really really inching and having it's a way to cut out hole. Bunch of interest and a way to you know take some of that uncertainty for students out of whether or not they should go to college. From what perspective well yeah if this school is willing to say upfront hey you know what. We are so confident that we'll be able to get to a good job that you don't have to pay anything for this tuition up front just give us some of your income. That to me he says okay this school is pretty darn sure that I'm gonna get a job upon graduation so I feel of the more confident taking that trip. Do you think schools are going to construct this in a way that saved students any amount of money. A not enough to run on the cost of operating the school and doubts you know it's gonna be the exact same mister shifting that liability a little bit more on the school. You know where this could really hurt the school is it. If and when we head into another Alito and recession means you graduated rate into that you graduated what 2000 when I regret rated how many of your colleagues. Did not have jobs or to not have the jobs that they were anticipating getting 434. Years after. Yeah I mean look it's certainly could add some new short term fluctuations there but I think recessions do anyways just yet were less able to pay during those years to begin with yep that's but here's where you're shifting it that liability was on the banks and the federal government to Atlanta the student money now you're shifting that liability on the school oh but Mike you're not and here's this is the line that I found particularly interesting in this. And this is that the the quote here. From. Mitch Daniels who is someone at Purdue I don't know if his exact role but this is his exact quote. For this to become a viable initial but the additional option we need scale. We need other schools and many more students participating so the marketplace of potential investors sees repayment history and we learn more about how well this works. The schools don't want to own right this yet they want us out now they wanna securitize it in sell off. Which means that you're going to be an indentured servant of Goldman Sachs when it it's all said and I don't. India and that my friends is is the scary part of this is that if you have one of these agreements and it gets sold off. You're not paying Purdue University anymore Purdue's been paid by Goldman Sachs to buy your loan. And now you're going to be responsible for paying Goldman Sachs portion of your income every month and they effectively owned that income. From me and you see is going so many different directions to like open up Goldman's thanks investment account and we'll see a view. 5% on you're a student loan payments this could go and so many different interest in direction and this is why. For all the talk of in it and look up someone who. You can probably pull tape for me from five years ago saying earlier this ambient testing the more thought about it the less I like because it doesn't address the core problem which is the cost of college. It is just your figure is just figuring out a different way. To make you pay the same amount so if all we're gonna do is see note shuffled the deck chairs on the Titanic. I'm not really too interested in I just think this the second I saw that Linus said. Who that's where they wanna go to schools don't wanna have the risk they wanna sell off just like they do today and who's gonna be on the hook for taxpayers just like they are today. Yes but I do like the incentive I like the incentive that he's putting some incentive on the schooled say we are confident we can get these people jobs because if big if the school isn't getting those people jobs after the fact. Then no womb Goldman Sachs know what it's gonna come in and buy these loans from. So it puts more of the focus on the school to make sure the students are graduating from those universities are employable. Right now and so but here's I guess I just see it is terribly dehumanizing. In that. You or education is now a matter of our life for Goldman Sachs. Yeah I'd I don't of that apartment like just put a bold in my head is done with and let's take a break when we come back we'll be talking about inflation creeping up in consumer staples. Chicago or. Everything business and finance future financial exchange with Barry Armstrong and chunks of on the financial exchange radio network. They're driven started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling -- let's -- a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of playing for your family there are numerous kinds of drugs that are available but two of the most common are revenue Google and irrevocable trusts their major differences between material so before you put pen to paper get some solid advice from someone who knows and can advise you on the best way to put together your plan Cushing and Dolan is a free guide out this month on the differences between -- a blender amicable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state Texas while protecting your assets from creditors and long term care expenses caller right now to give this free guide an 8668485699. Or downloaded right now from their website legal exchange showed dot com. Do with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of a spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. He's offered to securities America incorporated members and SIPC and advisory services officer securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the loss in your statement. It's 6 AM clear as a bell and winter quiet I'm watching Mike Pratt turned to Steve if I turn left out of the driveway there's a mountain of paperwork on my desk if I turn right there's a mountainous snow at loon. I am turning bright and. Work will still be there tomorrow January delivered over five feet of snow and lose wide open. Three mountain peaks tree skiing award winning terrain parks and New Hampshire is only super fight to save on tickets at loon NTS dot com slash tickets. 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And I say no you probably think it's definitely falls out of the sky at grand more than we see it differently at Kramer's known as a form of art. They craft if you think that improvements we make it all went through London he never ever stuff looking for ways to make new conditions better. You'll feel honored fluke than an hour remaining areas and you see it flying out of our energy efficient snow then. Snow is what we feel fit simply print more inexperienced clincher our way. Get at today's conditions and calendar praising it print more dot com. The financial exchanges. Is Cole a brutal England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. We've got some outstanding tax answering our. Question of what people expect to get their tax refunds are tax returns this year compared to. Previous years. Let's see here we go this is from 603. On a single guy made 71 K last year. My refund was 450. More this year and withholding went down 33 a week after tax cuts are pretty happy with the results though. Now one person in New Hampshire very happy there. This one from. 413. Got 5800 last year but 2700 this year. Married two kids council combining them 120000. So about a 3100. Dollar difference there. No one from 207 this one coming from Maine. Just filed typically get about a 4500 dollar refund from the feds this year kept most out of my paycheck can only get a refund of 1860. As expected I'm not seeing a whole lot of people texting and manner and now I got a lesser refund and it paid a whole lot more tax this year no you're not you're not seeing those coming through. But continue to Texas at 63566. If you have any interest in tax stories is this another one. 2017. Refund 332018. Only 2000. But paid 18100 lesson fed tax throughout the year so that's that's what you would expect as your refund is likely going to be smaller this year. But you've also likely paid way less in taxes over the course of the year. And for most folks for the average American probably get in that out too little bit more money in your pocket. Yes what news trivia. Do I know we're gonna do a little bit of trivia here today this is good question from Matt who puts our tribute together. On this date 1847. Iconic American inventor Thomas Edison was born in mole on Ohio which I didn't know there was a mole on an idea of so we're gonna be asking trivia questions about Thomas Edison the way it works is Texas at 63566. With the right answer and today will do. Let's see you let's do the eleventh ray answered since has since it's the eleventh day of February. If you're the eleventh person with the right answer to get a fifty dollar gas card Texas at 63. 566. In what state. Was Thomas Edison's famous Menlo Park laboratory. Located in text is at 63566. In the eleventh person with the right answer. Gets a fifty dollar gas card in what state. Was Thomas Edison's famous Menlo Park laboratory. Located in text us at 63. 566. And lobby it's coming up in just a little bits. Bad news for the two year old via the headline from CNBC is. Air from the the Wall Street Journal rather. Is prepared to pay more for diapers Clorox and count what are I've got to catch the latest bad news Danny is well once getting but you guys got a whole lot more waste to deal with so your diaper cost to go and up body. Yeah this is. This is tough for these companies to is the Procter gamble's the Church & Dwight in these can these consumer staples products that we all buy. And they're not talking about raising prices 1015%. But they are hike him up across the board. And these are companies that are really having a tough time competing these days the Procter gamble that Johnson and Johnson's. These companies that you know have that brand recognition. But the brand recognition is not meaning quite as much these days when everyone does their shopping online. The question for the to review the I'm always someone who like I tried just to shop store brands of possible because they're cheaper yeah. But there are certain areas where I've actually found that despite. A store brand being cheaper after using it I go back to more expensive stuff have you found that indicate a giving examples toilet paper from toilet paper paper towels OK it's time both of them I'm willing to pay a little bit more for better experience. Yep out of a leave it there at the comfort it really is. And so are there any other areas that you guys tend to spend a little more. So. I do with cheese also I have a I have gone with the store brands for diapers but I am only Julio honestly I tried. At. I won't name the pharmacy even a certain pharmacies branded diapers and they were terrible. Actually it is same with their there wipes for their baby wipes so. I won't go store brands but I'm doing research and going with the correct store brand not just any one there are big differences in clawed our average is second with like consumer staple sector know what what else you got I usually spend upwards for meet. You know this and I'll I'll buy fresh organic. Sam as opposed previously frozen. A something like that all all by grass fed me it's like a couple extra box discuss I believe it's better for you start stop like that. Com yeah that's pretty much alike and different. I do it on a lot of like produce things and stuff like that you know it is especially if it's you know leafy vegetables and things that can give you E. Coli a usually spend a little bit yeah to avoid said E. Coli I'll buy like organic spring mix of something like yeah eggs you know who would actually buy an awful do you remember the the guy from Italy forms that we had and yeah I saw that in the store last week on so I'd -- torque I'd buy their lettuce almost exclusively it's awesome very good it is just all there that are here about a year and a half ago yeah I -- I seem all the time now and then there's stuff is really. Really good but so it. Targets specific to me if you buy Pampers if you by a German puff. All these brands looking at increases four to 10% at Kimberly-Clark tissues bathroom and no all the stuff going up two to 5% so you're seeing increases expect in this year. Time for a break when we come back we're talking about a player from the country of Hungary. And how you might be able to pay no income tax if you leave their wallet and no exchange is alive on textbooks lectured like your page and watched the guys break down the latest on the market every day beginning at on the financial exchange radio network. The driven started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling talk about -- a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of drugs that are available but two of the most common are -- Google and irrevocable trusts their major differences between material so before you put pen to paper gets some solid advice from someone who knows and can advise you on the best way to put together your plan Cushing and Dolan is a free guide out this month on the differences between -- a blender amicable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state Texas while protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. Or downloaded right now from their website legal exchange showed dot com. In medieval times sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Hi everyone I'm doctor Timothy Gallagher founder of Gallagher chiropractic and medical moments and I would like to talk to you about an. Important educational seminar. About a breakthrough treatment option for arthritis coming up at the throw club in Concord do you find yourself unable to do the activities that you once enjoyed your defeating because you've been diagnosed with the arthritis being unhappy about your doctor's recommendations of drugs or surgery. Well we have a solution for you stem cell therapy. I know there are a lot of questions in misconceptions out there about stem cell therapy and I want to provide you with the current scientific literature about this FDA approved completely safe. Review edited injection that could help you with the arthritic pain please be my guest at the third row tennis club in Concord lunch will be included so register at. Free stem cell event dot com forward slash Concord dash Lexington or call 9782084015. Join us on Thursday February 14 from 11:30 AM to 1 o'clock PM it's 6 AM you don't meet your form. Doesn't matter my body knows the drill anyway because we do this every chance we get. Like a kid at Christmas he's going to be the window skis at the door hot cup of coffee in hand that you dream just in time for first tracks of Linux. January delivered over five feet of snow and lute is wide open the the free mountain peaks tree skiing award winning terrain parks and New Hampshire police who provide a save on tickets at blue and MTN dot com slash tickets. I folks this is Mike Armstrong and I'm joined by estate planning attorney Todd lets you with your financial exchange quick tip of the day. They were talking about the differences between revote Kabul and your revote will trusts have taught you what is the biggest difference between a revote Kabul verses and durable global trust. You know this is probably the most frequently asked question that that I'd get here richer people just wanna know that and there are really a lot of differences but what I'm gonna do is to tell you what we're talking about the differences between a Medicaid irrevocable trust has folks there's so many kinds of irrevocable trusts out there. I want to be clear that this is those income only Medicaid. Irrevocable trusts that are designed to protect assets from the owners now. Verses. Eight re vocal bull family type trust. The biggest difference between the two is that the revote couple trust will never protect assets from the nursing a five years ten years doesn't matter how long your assets are and it. But with an irrevocable trust after the assets have been put in there for five years. Then they will be protected from the cost of long term care that's really the difference well let's haired pain attorney to draft I'll trust to revote Kabul can I just go and have them change it to and you're vulnerable trust. So many people love to do that you could but no. You actually have to start over. The language of the trust itself is key. In making it protected from the nursing homes so you can't just make the word revote global irrevocable and the odds are there not so easy but that's the big difference lies control wise I think you're still. About the same. Excellent while the state planning experts accretion and don't have written a brand new guys that answer the most common questions that you have about the differences between revote Kabul and irrevocable trusts you can press has brand new guy by calling 8668485699. However folks if you wanna download the guide today just as it legal exchange showed dot com. Once again if you want to guide paper though give us a call 866848569. You might not be able to keep up with all the latest business and finance news but we can't fix the financial exchange with Barry Armstrong and chunks not a on the financial exchange radio network. Last segment we did a little bit attribute the question was in what state was Thomas Edison's famous Menlo Park laboratory located in the the answer is New Jersey nicer he is former research lab up in Menlo Park 1876. And that's why he was known as the wizard of Menlo. Dennis from not panic of New Hampshire had the eleventh correct answer Arab League wasn't taken on that fifty dollar gas card trivia today. Brought you by the Armstrong about your group with the market still vault on the has a great time for review of your portfolio call 803934001. And senator free no obligation consultation today. Once again that number is 803934001. And I got to deal for the two U credit records the way there. Is as hungry as me I'm go. Have well let me have I got to deal for the to you I'm out so the prime minister of Hungary Victor or bond. Is trying to put this plan into place. Where if you have four or more babies in Hungary you pay no income tax for life. I'll. Do now. We got yet rights are lobbying politicians steal here. You guys think of what. It. But what what a what a what. What I think about this they've got to do something they've got a shrinking population hungry they don't allow any immigrants and they cannot. Handle the workforce can't handle the any sort of you know economic growth so they have to do something here. Nor can work is story I mean this is such data extreme. Economic incentive that maybe it will. But historically. The economic incentives to have more kids haven't been all that success. This doesn't really address the the core problem underneath which to me is why are we having fewer children today there. We're expensive or that they're they're too expensive and you don't need them anymore. Lake go back a hundred years in the reason that you had a whole bunch of kids. Was if you have a whole bunch a week that you had to bring in off before the reason that you had eight kids was because you had to go when milk every single count on your form by hand you don't need to do that today. And so. For my perspective. Look why why are we encouraging for kids just for the sake of having four kids. Well because reduced still need to why the individual families don't still think they were better countries still need I only if I just think her. At this anchor here's why work you know it's not but I wanna say it anyway. Here's why I I think that this is kind of a non issue. Free single thing that we're here. Is about how we're going to have more and more automation over the next decade him. And how old thirty to 40% of jobs are going to be automated out and this field's going to be automated out of that field's going to be automated now. These two problems cannot exist simultaneously you can't have a problem of too much automation and too few children the same time it's physically and. Possible. Okay but let's say that you did have enough labor to be able to fulfill these jobs at a low cost rate so let's say you could still higher trucker today paying 35000 dollars a year because there's no flavors. To fulfill that role. Would we still be having a driver Lewis truck on the Villa on the roads five years from now my argument would be not a chance. The economics said that he knows that wouldn't make any sense you wouldn't have that person there. Why. Because he'd be way more costly than hiring the individual well. At first every technology is more expensive and very late if you try to build a solar panel on 1874. It's gonna cost you like the GDP of the United States Jeff so it like technological progress takes time. But the big things that we historically seen or more in more productivity leading to fewer and fewer workers needed look at the farm sector in the US as an example. We have 20% of the farmers that we do a hundred years ago but four times the yield. But how many times in history have we said oh man you're gonna invent this new thing it's gonna automate all these jobs and now all these people are going to be unemployed. And then now we just develop new jobs new important industries that need labor again. I mean you could have said in the whenever the printing press was. Invented that was going to just eliminate all the jobs in the economy. But it didn't it just allowed new industries to pop up and exist I don't think that automation is going to just eliminate the need for workers. Well it's not what why do we need to. It's never going to eliminate them but it's going to make the ones you have more productive and if there's a need that workers can't build and someone's gonna develop technological solution to. Lake but that's kind of how it tends to work went. When there's a job that humans can't do. We invent stuff so that it can be done that so you don't believe that a shrinking let let's say that's not the case yet states but let's say that the population in the United States was shrinking like Japan like hungry. You wouldn't consider that to be an economic concern for twenty years from now no I consider to be an economic concern in that if you look at debt based financing and the way that we tend to manage our economy state it's a concern from that perspective got. But that just means that they were managing our economies the wrong way. You know the solution if your Reno trying to hammer and a with a screwdriver. Isn't to mandate more screw drivers is to say hey we gotta build hammer so the reason the right tool. Well as the father of 3 daughters I am strongly in favor of the four kids no income tax rule here domestically let's go they say by the way is this this for more babies in Hungary. Do you have to. Have them while you're in Hungary or can you move there with four kids. No I know that it's very very difficult get a visa in Hungary to shoot him live and work there so. Unclear. Whether or not they have to be born in Hungary. They are doing some other things to Europe and throwing like cash at people to be able to have word that actually earlier passionately in his pocket and I don't know. Accused the ball casket gets in daycare heads up. Those kinds of things. Yeah I mean I against the see if this works I don't think it's the right solution I think the better solution is. Finding a way to provide cheaper. Day care solutions. But. We'll see if works in congress. Folks it's pretty hard to find a bank the best checking and savings account that can provide a decent return but if you in the market for one and a get a deal you're gonna wanna check out. I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts. Look no further than leader banks Zuma rewards the count qualifying customers get 1% back on debit 10% back at feature businesses. With no minimum balance required. And no monthly fees but that's not fall. Leader banks who missed savings account. Let's get a 2.3 5% EPY that's 2.3 5%. And a great perk presume my customers. If you're searching for great rate it's time to call leader bank it 8776917900. The number again. Is 8776917900. Or visit them online leader bank dot com minimum deposit opener EP wise ten dollars. 2.3 3% interest rate mass residents only fees may reduce earnings. Great subject to change without notice lead bank a step ahead member FDIC. Sprang to my wireless carrier is accused AT&T of false advertising of five G service what the next going on here it sure seems like there are. So eighteen times doesn't did you they they rolled out this and knew who steal one on yourself on if you look at the top right hand corner tells you what sort of network you're connected to yes I was driving through New Hampshire the other weaken as on three G wearers and you hear him on forgy. Well AT&T started putting a new network called five GE on the air which is just a faster it's actually four G network but they call it. Five G evolution. Because that's what's coming that's cheap like a such bogus like there's not on five G network by the definition of what five G is. It's not that has a make you feel truck. Good not that it does seem like loss at this this this doesn't get meal as riled up is other things do but yeah this is one way I look at him like guys like you're you're not on five G network. There's also a lot of lawsuits going on with all of the carriers not just AT&T here about those coverage maps that they put together a real they're just they're just eight they don't really exist like if you look at all the coverage maps and look at a map for instance Vermont. It's pretty much the entire stays and and you go drive around there and like three quarters has no self perception on my house. I have parts of it to don't get proper reception. Usually they get it's just not accurate it would not uninteresting so if you're saying that you are here I guess here's where I stand. So they're saying that this AT&T their arguments OK and these are there you know exact. It's these are pretty much bare words. Five G evolution in five GE simply let customers know when their device an area. We're speeds are twice as fast as the standard LTE that's available that's that's what AT&T is saying. Sort of called that but it's not five g.s or should it be four GE or like. I don't know two X four G if you wanna call that. You know I guess it just it doesn't rate it just doesn't make sense is not actually accurate this would be like if Cheerios. Made Honey Nut Cheerios with Al honey. But still put the work honey even. It's like no wait that's not how it works like. You you can't pretend something is something else words are kind of important to the basis for. New western civilization and let's take a break here when we come back Stephens from CNET road show. Is gonna join us to talk about the 20/20 Subaru Legacy. And what is coming from them in the future that's coming up right after this. And include. Arie chulk in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio that. Where do with the loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of a spouse's death there are several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages in tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. He suffered securities America incorporated members and SIPC and advisory services officer securities America advisors incorporated Barry Armstrong represented a strong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the loss in your state. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. If you haven't started in the state plan yet now is the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan. Many problems can arise take the time to avoid that kind of issue by calling talk about ski a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of trusts that are available but two of the most common are rev a global and irrevocable trusts there are major differences between material so before you put pen to paper get some solid advice from someone who know respect and advise you on the best way to put together your plan Cushing Dolan is a free guide out this month on the differences between rev a double and irrevocable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. Or downloaded right now from their website legal exchange showed done. 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Or email BBO leader bank dot com for more information member FDIC equal housing one. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of round date with zero and leader banks all mine rent collection tool he -- automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every -- tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from you. Thanks Steward Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. As promised Tim Stephens from CNET. Roadshow joins us now to talk about the 2020s. And learning get a down nicely in Oman Iran couldn't get him now I want to try to get. We'll talk about something else until that over the fate concert how's that sound a concert ticket so. I say this jokingly but here's what happened so there is a music producer and a DJ called martian soil. And about a week and a half ago the day before the Super Bowl marshmallow had a concert. On fort night which is a video games of people would login to fort night and going to this video game in order to watch this concert. That marshmallow was putting on tech didn't like 101000010 million viewers some idea it was ridiculous. And does everything about fort night just the numbers in terms of four Knight or absolutely stacked. That that they're nuts but actually let's cut back to this just manages to reduce optimum line Tim good to hear me how's everything going. Great area were good so we get the 20/20 Subaru Legacy up on the super driver among my second WRX right now. So I'm I'm partial to the brand obviously but in in terms of what's new for this model what what what are you see in on the 20/20 legacy. Positive territory you'll be happy to know they actually bring a little bit more sporting aspect of the legacy at these gasses forty versions of the legacy back in the day that the aspect being cute things like that lately Blix he's kind of become more of a comparable Krugman today and that I think the with a new version are hoping to make it a little bit more decent drive. It comes to replay this platform which is a lot more if than before which means better handling. They're adding a new Turbo charged voter as well of the new 2.4 liter Turbo to give to see what our. You're at 66 point one seconds which is pretty spare for us to them aside. Tim I was looking that does some of the pictures of the lacing a particular was struck by. Inside at arguments this infotainment screen it looks like it's just this massive screen right in the middle almost reminiscent of what you would see on a test or something like that. Yeah absolutely epic patent some inspiration from Tesla almost hitting submit someone as well or has very large screen eleven point six inches of measures directly but it's oriented vertically in. In in the senate that were between the two seat so especially if you're really nice you'd use what is or for navigation crude on the road which things for the great. But it also kind of a familiar layout you know you know Smartphone or tablet you and open that late so. Before you belly up in the works really well there also have. Into an auto apple corps played in there which is great and you now get an optional call speaker Harman car bounced into a two of religious sounded really good to put famous via a big step or from anything we've seen report. Similar to the the US carmakers are moving away from sedans on their platforms right now. What was super continuing to invest in them of other carmakers arts. Huber especially having pretty good success was abandoned the station wagons as well as something that's and other manufacturers are struggling with it's something that you know they've they've simply had success without being allowed to group are traditionally have possibly answer this bill going there. But we will see and how backwardness for sure I'm guess you'll see bit of that and built the not too distant future without Gilbert are in a wagon versions of yet taken that step toward yes if you have more people are buying. I'll be underplayed this is given opting to be using a major news today and that but pursue groups those don't. All right very good Tim thanks for joining us we'll catch up soon. Eric Tim Stephens from CNET Roche are talking about the 20/20. Subaru Legacy. The dog cart into Europe looks really nice they do that says we're gonna who let's get back to this fort night marshmallow. Collaboration type thing that was going on so certain. First I've watched browser DJ ass up and explain a few things one for tonight is a free video game that you don't have to pay for up front correct and that has attracted millions upon millions of users yeah I think it since Tony seventeen the game has netted the company 2.4. Billion dollars total currently has 200 million players. Correct. Which is nuts it's more than any historical game ever and it's netted 2.4 billion in again. It's free. So what what what they did here is they they put on this. Effectively virtual concert where you can log into the game and his DJ would be playing this concert in the game and they're different things that you can you could only see it there. Correctly you can stream it online and you had to be in fort night degrasse this car I've seen video clips of the concerts. Pretty amazing what did it actually now some of the stuff well look I think it's really cool. And again I say this just is I I try to in general now look at this and say OK if I worked kid. You know how how what I've used is in general I think kids tend to be pretty perceptive and pretty on the ball when it comes to the stuff. And so I think it's cool you can login in and see stuff like this legacy concert. Where I think this jumps the shark where I still have trouble trying to understand this the way they made money off this as an example. Your character in the video game. You could buy a marshmallow had to put on your character and yet spent fifteen dollars for them in a real money correct real dollars in this is where I just I try to figure out. What it's all about I mean I guess it's no different from any other status symbol that you buy. I mean thing is at the other thing they did was they partnered with the NFL and you could buy NFL Jersey for your character to wait to play W you can customize the mercy of totally see. People don't let people don't realize beep yeah you know I mean I can see you doing in the video game I think there's another thing they offered you could buy a dance move. Yeah for five all he could bide dance move for five dollars years here. Video game character to do specific dance I mean meet personally I would never spend a dime I whenever I've played for Knightley and people are dear leader that they've run 2.4 billion dollars in revenue source tortoise and for me personally I did spend a pentium M in peep. We'll have always spent money on dumb status symbols that are out they that's that's kind of late. Just being human is you you see people spending. Don't money on dumb status symbols now that defected to virtual pay like I guess like that's just the way people are buying stuff now but. You know fight at dime for you know every person SO bought you know car that was a little too expensive because it was you know and a brand that they liked or something like that. Pain like that stuff happens now so. I just I do find this interesting. Just from the perspective of we're starting to see this this transition towards you know it used to be okay. So you you want to go on line you can get news or you could maybe play a video game you started Seymour just social activity moving on I'm beyond even just talking to people and stuff like that. It's actually building events now. And I find that interesting from a financial person I think it's fascinating idea because. There is going to be ways to make money they're going to be ways to make money off this Amazon is hair colors it was a concert with with twitch and stuff like that. But I wouldn't be surprised. And in mark this one. Netflix in their last during report mentioned for that is their greatest competition. I think they are going to be going towards this video games and online events virtual reality tepid stuff. I hate the fact that Netflix referenced this is competition. Tells me this is what they want to what it. As a death which is acquire epic games because it's. It would be very expensive about knitting anguish Saturday was the big player in the Chinese tech company in the C I don't think you wanna be the the game maker. Is that subject what games popular content creator you wanna go as you wanna be the platform that any game and operate on. I told time we have on this show but we are back at it tomorrow with a whole lot more financial exchange.